China To Introduce Carbon Tax

In a step toward combating global warming, China announced earlier this week that it would implement a tax on carbon dioxide emissions, reports Xinhua, China's official state news agency.

Some economists view action by China as key in the international push to preserve the environment. While U.S. carbon emissions recently hit a 20-year low, China's carbon emissions continue to rise and reportedly account for most of the world's growth in carbon emissions. China is the largest polluter in the world and now burns nearly as much coal as the rest of the world combined.

In the U.S., there is no carbon tax, though two liberal senators proposed a bill to tax carbon emissions last week, according to Reuters.

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